Investec Bank Lists R90m IBL387 Floating Rate Notes

In Short

Investec Bank Limited has applied to the JSE for the listing of IBL387, a R90,000,000 tranche of senior unsecured Floating Rate Notes.

The notes are set to be issued to noteholders from the commencement of trade on 21 October 2026.

What Happened: How The Investec IBL387 Notes Are Structured

Investec Bank Limited said the listing is under its Domestic Medium-Term Note and Preference Share Programme dated 05 May 2026.

The instrument is described as senior unsecured notes, which means the debt is not backed by specific collateral and ranks ahead of subordinated debt if the issuer cannot pay.

The aggregate nominal amount of the tranche is R90,000,000, with a nominal amount per note of R1,000,000. The issue price per note is 100%.

The interest rate is described as “the Margin minus the Reference Rate”, determined in line with item 45(ii)(k) of the applicable pricing supplement. The margin is 17.11%, and the reference rate is Compounded Daily ZARONIA, a South African overnight interest rate benchmark.

The maturity date is 21 October 2036, as adjusted in accordance with the applicable business day convention. Final redemption is the nominal amount per note, plus any accrued unpaid interest to the maturity date.

Interest payment dates are 21 January, 21 April, 21 July, and 21 October each year until the applicable redemption date. The first interest payment date is 21 January 2027, as adjusted under the business day convention.

Why It Matters

This announcement adds another note code, IBL387, to the set of Investec instruments tradable on the JSE, giving investors a clearly defined tranche size, pricing, benchmark, and payment schedule.

Investec also disclosed that the aggregate nominal amount of notes outstanding in the series, including this tranche, is ZAR43,587,000,000, excluding other notes and programme preference shares issued on the issue date.